David Windley Sells 3,694 Shares of Tennant (NYSE:TNC) Stock

Tennant Company (NYSE:TNC) Director David Windley sold 3,694 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $63.86, for a total value of $235,898.84. Following the completion of the transaction, the director owned 7,422 shares of the company’s stock, valued at $473,968.92. This trade represents a 33.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tennant Stock Performance

TNC traded down $0.05 during midday trading on Monday, reaching $60.98. The company had a trading volume of 264,164 shares, compared to its average volume of 169,477. Tennant Company has a 12-month low of $60.17 and a 12-month high of $87.72. The business has a 50-day moving average price of $77.13 and a two-hundred day moving average price of $78.02. The stock has a market cap of $1.09 billion, a PE ratio of 26.06, a P/E/G ratio of 1.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.37 and a current ratio of 2.05.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, February 27th. Tennant’s payout ratio is presently 52.99%.

Institutional Investors Weigh In On Tennant

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in Tennant by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 585,022 shares of the industrial products company’s stock valued at $43,116,000 after acquiring an additional 6,760 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Tennant by 0.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 502,598 shares of the industrial products company’s stock worth $37,041,000 after purchasing an additional 2,803 shares during the period. American Century Companies Inc. lifted its position in shares of Tennant by 26.6% in the 3rd quarter. American Century Companies Inc. now owns 434,996 shares of the industrial products company’s stock worth $35,261,000 after purchasing an additional 91,382 shares during the period. Millennium Management LLC boosted its stake in shares of Tennant by 33.8% during the 4th quarter. Millennium Management LLC now owns 358,452 shares of the industrial products company’s stock valued at $26,418,000 after purchasing an additional 90,611 shares in the last quarter. Finally, Vision One Management Partners LP increased its position in shares of Tennant by 18.1% during the fourth quarter. Vision One Management Partners LP now owns 344,585 shares of the industrial products company’s stock valued at $25,396,000 after buying an additional 52,721 shares during the period. 93.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TNC has been the subject of several analyst reports. Zacks Research downgraded shares of Tennant from a “hold” rating to a “strong sell” rating in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Tennant in a research note on Monday, December 29th. Wall Street Zen cut Tennant from a “buy” rating to a “hold” rating in a research report on Saturday. Freedom Capital cut Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Roth Mkm reiterated a “buy” rating and set a $91.00 price target (down from $107.00) on shares of Tennant in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tennant presently has an average rating of “Hold” and a consensus target price of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.